S 505 · 119th Congress · Finance and Financial Sector

‘Protect Small Businesses from Excessive Paperwork Act of 2025

Introduced 2025-02-11· Sponsored by Sen. Scott, Tim [R-SC]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
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House
5
Enacted
Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2025-02-11)

Plain Language Summary

[AI summary unavailable — showing source text] Protect Small Businesses from Excessive Paperwork Act of 2025 This bill extends the deadline for certain companies that are required to file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). Specifically, the bill requires companies formed or registered before January 1, 2024, to submit this information to FinCEN by January 1, 2026, instead of by January 1, 2025, as required under current regulations.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (12)

12 Republicans
Sen. Rounds, Mike [R-SD]SD
Sen. Moran, Jerry [R-KS]KS
Sen. Hagerty, Bill [R-TN]TN
Sen. Ricketts, Pete [R-NE]NE
Sen. Lankford, James [R-OK]OK
Sen. Cramer, Kevin [R-ND]ND
Sen. Lummis, Cynthia M. [R-WY]WY
Sen. Britt, Katie Boyd [R-AL]AL
Sen. Tillis, Thomas [R-NC]NC
Sen. Banks, Jim [R-IN]IN
Sen. Moreno, Bernie [R-OH]OH
Sen. Crapo, Mike [R-ID]ID